Trouble in North San Jose For Tishman Speyer
June 29, 2009
Tishman Speyer has defaulted on the loan it used to finance the purchase a 40 acre site from BEA Systems in 2007. Tishman paid about $60 psf ($108M) for the site in March of 2007, which BEA Systems then parlayed into the purchase of the office tower at 488 Almaden from Sobrato.
Tishman had intended on [...]
Oracle Tower Going Sony?
February 23, 2009
Sony has been in the market for quite some time with a requirement of roughly 300,000-400,000 square feet. They’ve been rumored in the past to be looking at sites from the South Bay up the Peninsula, including Jay Paul’s Moffett Towers project. We’ve heard that they are now seriously considering the Oracle/BEA/Sobrato Tower at 488 N Almaden [...]
Read More >>Marketwatch Story on Oracle Building at 488 Almaden; Oracle Layoffs Announced
January 15, 2009
MarketWatch is featuring a story discussing the 380K square feet office building which it acquired through its 2007 acquisition of BEA Systems. The article discusses the tower’s past, and where the market is overall and the nature of the building relative to the campus-style environment prevalent in the valley.
Not much new, but these types of [...]
Possibly Brilliant Timing for Buyer of Oracle/Sobrato Tower; PWC Possibly on the Hunt
July 24, 2008
Rumor is that there is a Big Four firm on the troll to take down 150-200K SF of Class A office space in Downtown San Jose. The likely suspects consist of Deloitte, KPMG, PWC, and Ernst and Young. “Friends” inside E&Y indicate it is not them, KPMG is not a likely candidate, and Deloitte’s lease [...]
Read More >>Who is the Buyer of the Sobrato-BEA-Oracle Building at 488 Almaden Blvd?
June 18, 2008
Word is a buyer has been picked by Oracle Corporation (NASDAQ:ORCL). BEA paid about about $335 psf ($130M) in 2007 for the 388,000 square foot tower. You can read more about the story of the tower in a previous post. If I had to guess, I’d say the building will trade for significantly less than what BEA [...]
Read More >>KT Properties Picks Up 1 S Market in Downtown San Jose
March 24, 2008
KT Properties has acquired the property locatd at 1 South Market St in Downtown San Jose from Haury Properties. Plans for the site include high-rise condominiums but could be changed to office if the demand materializes. KT and its partners are currently developing the AXIS residential condo project located at Santa Clara and N Almaden [...]
Read More >>CoreNet Global Honors Frank Jesse of BEA Systems and Joan Price of Gensler
November 18, 2007
I attended a CoreNet Global dinner event at the Four Seasons in San Francisco on thursday honoring the Corporate Real Estate Service Provider of the Year as well as the Corporate Real Estate Professional of the Year for the Northern California Chapter.
This year’s winners were Joan Price of Gensler for the CRE Service Provider of the [...]
